U.S. video game and consumer electronics firm GameStop will launch a new division dedicated to non-fungible tokens and crypto partnerships.
. There was also speculation regarding a tie-up with layer 2 decentralized exchange – Loopring – but nothing has been confirmed yet.GameStop is also seeking crypto partnerships and has signed deals with two firms for technology sharing and investment into the development of blockchain and NFT games. The unnamed sources said the firm is expecting to partner with more than a dozen similar crypto firms this year and invest “tens of millions of dollars” in them.
GameStop was also at the epicenter of the “meme stock” trading frenzy last year, in which retail investors hyped its stock on aThe massive move sent GME soaring from a little over $130 on Thursday to $174 before the stock prices retreated to current levels at $160. GameStop shares have been on a downward slide since late November, when they peaked at around $250. GME hit an all-time high of just below $350 during the trading frenzy in late January.
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